Jordan, who turns 36 next month, told a well-attended news conference at the house he built, the United Center, that he's "99.9 percent sure" he won't return after 13 years in the NBA.

"It's not really 100 percent," Jordan said, "but it's close. That's where I stand. I'm not going to say never. But I will say 99.9."

Jordan, who first retired in 1993 after the Bulls won the third of their six championships, said this was as good a time as any to hang up the Air Jordans. Over a storybook career he has won six championship rings and 10 scoring titles while earning five Most Valuable Player awards and six NBA Finals MVP trophies.

In addition to being remembered as perhaps the greatest player in the history of the game, Jordan sealed his reputation as the pre-eminent clutch performer by hitting the game-winning basket with 5.2 seconds remaining to give the Bulls their sixth title with an 87-86 victory over the Utah Jazz in Game 6 of last season's NBA Finals.

Jordan, joined by his wife, Juanita, at the news conference, said he finds himself too mentally exhausted to go through the grind of a season, even this year's abbreviated version, shortened to 50 games as a result of a recently settled labor dispute.

"From a career standpoint, I've accomplished everything I could as an individual," Jordan said. "Right now I don't have the mental challenges that I've had in the past to proceed as a basketball player. I'm sure people will say that there are a lot of challenges that could evolve. For me, to start something and then at the middle of the season lose interest and lose my motivation is unfair to the people I'm working with and working for, and to the fans. I alleviated that by saying, `This is the perfect time to walk away from the game.' I'm at peace with that."

As he did when Jordan retired on Oct. 6, 1993, NBA Commissioner David Stern flew to Chicago to honor Jordan, calling him one of the greatest ambassadors the game has even seen. Stern, who all but begged Jordan to play at least one more season to help repair the public relations damage caused by the labor dispute, thanked Jordan for a spectacular career that boosted the popularity of the league worldwide.

"Michael, I get to say thank you for 29 teams and hundreds of millions of fans around the world," Stern said. "Thank you for what you've meant to our game. Thank you for being who you were, not only for your leadership and greatness on the court but for who you were and you will continue to be off the court."

Bulls Chairman Jerry Reinsdorf, who presented Jordan with his 1998 championship ring and re-hoisted Jordan's retired No. 23 jersey to the United Center rafters, said it was a sad day for the Bulls and for basketball.

"This is a day that I hoped would never come," Reinsdorf said. "It has to be the toughest day in the history of the Chicago Bulls. It's a tough day for Chicago; it's a tough day for the NBA."

Jordan acknowledged the decision was a tough one for him.

"I'm doing a good job of trying to hold back the emotions because it's like taking back something I truly have loved. I started when I was 12 years old and I'm 36 next month, so 24 years I've been playing the game," he said. "It's sad that I'm leaving the game but it's happy that my life is starting to go into a whole new stage.

Jordan said he reached his decision over the summer, when he knew Phil Jackson wouldn't return as Bulls coach.

"Actually, I talked to Jerry once the season ended," he said. "I told Jerry at that time that mentally I was a little exhausted. I didn't know if I would play (this) year. I wanted to put him on awareness so that he could possibly prepare. Jerry, once we had our conversation, wanted me to take time as I did in '93 to make sure it was the right decision and that it was going to be the final decision."

What will he do now?

"For the most part, I'm just going to enjoy life," Jordan said.

He said there is a possibility he could still be involved with the Bulls during his retirement. But he said it's best for him to make a clean break at this point.

"The best way to survive without Michael Jordan is to somehow start to live without him," he said.